Stories for May 11th 2017

“This is, probably, the largest tasting of Argentine wines to have ever been held in the United Kingdom”, read the introductory note from the renowned British wine expert and journalist Tim Atkin for the showcasing of the fifth edition of his annual report entitled “the top 100 Argentine wines” at the Ambassador’s Residence.

Anger behind president Donald Trump's firing of FBI Director James Comey on Tuesday had been building for months, but a turning point came when Comey refused to preview for top Trump aides his planned testimony to a Senate panel, White House officials said.

Argentine president Mauricio Macri and a delegation of ministers and governors, are off for an Asian tour in search of investments that includes the Arab Emirates, China and Japan. The undertaking is looking for billions of dollars to help develop Argentina's infrastructure.

Chilean president Michelle Bachelet cut the first sheet of steel for the construction of the country's new icebreaker which is expected to be operational for the 2022/23 Antarctic season, replacing the ageing Almirante Oscar Viel. The US$ 200 million plus project based on a contract with naval architects and marine engineers Vard Marine, will be built at ASMAR Talcahuano, Shipbuilding & Ship Repair Company.

Australian Treasurer Scott Morrison has unveiled a new budget which includes a surprise rise in taxation for the country's five biggest banks from July. Morrison also announced education savings which will see students pay a greater share of the cost of degrees, while infrastructure projects, health and housing affordability were also high on the government's agenda.

Argentina's statistics agency Indec, said on Wednesday 12-month inflation through April was 27.5%, the first time it has published 12-month inflation since President Mauricio Macri took office in December 2015 and revamped data calculations. Indec said April inflation was 2.6%, above median analyst expectations for a consumer price increase of 2.1 percent.

The Falkland Islands Government (FIG) is closely monitoring the situation of the stranded M/V Uruguay Reefer and has been in contact with the vessel operators to impress upon them the need to find a solution which avoids the vessel sinking in Falkland Island Conservation Zones.

Brazil's former president Lula da Silva called the corruption trial threatening to end his storied career a “farce” during almost five hours of testimony on Wednesday. Lula is accused of receiving a seaside apartment as a kickback from the OAS construction company, and if found guilty could be barred from running for office and even jailed, destroying his hopes of coming back to power in the 2018 presidential elections.

Non-EU citizens may have the right to residence in the EU if their children are EU citizens, the European Court of Justice (ECJ) has ruled. The case refers to a woman from Venezuela who had a child with a Dutch citizen from whom she has since legally separated. She was denied social welfare and child benefit payments by Dutch authorities.

Gibraltar is preparing for a hard Brexit but expects new opportunities for its financial services sector despite the challenges ahead, Finance Centre Director James Tipping told a European Parliament committee in Brussels. Mr Tipping told the parliament’s Committee of Inquiry into Money Laundering, Tax Avoidance and Tax Evasion that Gibraltar’s finance centre was “small by European standards” but crucial to Gibraltar’s economy.